iTonic Holdings approves 16-for-1 reverse stock split

<iTonic Holdings Ltd (NASDAQ:ITOC)> has approved a 16-for-1 reverse stock split at its extraordinary general meeting on September 9, according to a press release. The consolidation will reduce the number of outstanding class A ordinary shares from 109,382,000 to approximately 6,836,375, and class B ordinary shares from 7,668,000 to approximately 479,250.

The new CUSIP number for the shares will be G71399110, replacing the current number G71399102. The reverse stock split is intended to increase the trading price per class A ordinary share to support efforts to regain compliance with Nasdaq's $1.00 minimum bid price requirement. Nasdaq has granted the company until October 19, 2026 to regain compliance.

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